Three Link’s App Automatically Detects and Analyzes Expense Report Anomalies and Risk
Key Facts (At-a-Glance):
- What It Is: ExpenseGuard is a Built-on-Workday app developed by Three Link Solutions to automatically flag expense report anomalies and analyze risk levels by expense type, department, and individual.
- How to Get the App: Visit ExpenseGuard | Workday Marketplace
- Why It Matters: Asset misappropriation, such as an expense report scheme, is the most common form of workplace fraud. Three Link’s ExpenseGuard app helps Workday customers reduce loss, strengthen controls, and save time by identifying expense report mistakes or potentially fraudulent activities earlier.
Three Link Solutions, a certified Workday Services Partner and Innovation Partner, recently launched ExpenseGuard, a Built-on-Workday app that seamlessly integrates with Workday. This makes it easier for customers detect expense report anomalies, prioritize high-risk reviews, and strengthen expense controls.
ExpenseGuard extends native expense management capabilities in Workday Finance so finance and audit teams can focus their time on high-risk expense reports and true exceptions, reducing manual review cycles and improving accuracy and confidence in expense approvals.
Three Link’s app helps Workday customers:
- Save money by helping prevent expense report mistakes or fraudulent activities
- Prioritize focus on true exceptions and reduce manual expense review cycles
- Support more objective expense reviews and improve audit readiness
“Asset misappropriation is the most common type of workplace fraud, which includes expense report schemes. That’s why we developed ExpenseGuard as an additional safeguard against fraudulent activities or mistakes that can slip through the cracks,” said Greg Knowlton, founding partner of Three Link.
“We’re proud to partner with Workday on launching this app that helps customers spot higher-risk expense activity faster, improve review consistency, and reduce the risk of fraud and loss.”
More information on Three Link’s ExpenseGuard app can be found on the Workday Marketplace, or you can request a demo. ExpenseGuard gives Workday customers a new way to extend expense controls within the platform they already use.
Frequently Asked Questions for ExpenseGuard Built-on-Workday App
What does the ExpenseGuard app do?
ExpenseGuard automatically flags expense anomalies and risks across the organization. It provides a streamlined workflow for reviewing and resolving flagged transactions, as well as dashboards to drill into details.
What’s the difference between Workday Expenses and ExpenseGuard?
With Workday Expenses, organizations can categorize expenses, approve expenses, and enforce policies such as a maximum per diem amount. Three Link’s ExpenseGuard extends those capabilities by analyzing expense activity, identifying higher-risk anomalies, and helping teams evaluate risk by expense type, department, or individual.
What’s the most common type of workplace fraud?
Asset misappropriation is the most common type of workplace fraud. This includes expense reimbursement schemes. Mischaracterized, overstated, or fictitious expenses and multiple reimbursements are all ways an employee can siphon resources without the right processes and tools in place.
How can organizations prevent misappropriation on expense reports?
More than half of workplace frauds occur due to lack of internal controls or an override of internal controls. Businesses can minimize this by:
- Setting clear expense policies
- Monitoring processes and access
- Implementing tools like ExpenseGuard to automatically detect anomalies
